Small Business Jobs Act
In September 2010, Congress passed the Small Business Jobs Act of 2010, seeking to ignite the struggling economy by boosting small business. The new law provides tax relief to businesses and individuals designed to promote investment, lending and hiring. Of course, uncertainty remains as to whether Congress will allow the Bush-era tax cuts to expire in 2011, but the Act could provide at least some level comfort to business owners.
Some of the key provisions in the Act include:
The Small Business Jobs Act could benefit you and your business, but it is important to discuss the details with your CPA and your attorney. Only through proper planning can a business take advantage of the Act and avoid the potential pitfalls that exist in the fine print. For example, many of the incentives only apply to activities that occur during the 2010 and 2011 tax years and apply in very specific situations.
We want to help you understand and hopefully benefit from the newly enacted law, so please contact us to discuss a plan of action for your business.